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Trending ETFs

Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.55

$51 M

3.48%

$0.30

0.63%

Vitals

YTD Return

-0.8%

1 yr return

2.1%

3 Yr Avg Return

-3.0%

5 Yr Avg Return

-0.2%

Net Assets

$51 M

Holdings in Top 10

25.7%

52 WEEK LOW AND HIGH

$8.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.63%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 194.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.55

$51 M

3.48%

$0.30

0.63%

PQCNX - Profile

Distributions

  • YTD Total Return -0.8%
  • 3 Yr Annualized Total Return -3.0%
  • 5 Yr Annualized Total Return -0.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.28%
DIVIDENDS
  • Dividend Yield 3.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    PGIM Core Conservative Bond Fund
  • Fund Family Name
    PRUDENTIAL
  • Inception Date
    Nov 15, 2016
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Stewart Wong

Fund Description

The Fund’s investment objective is to outperform the Bloomberg US Aggregate Bond Index (the “Index”) over full market cycles. The subadviser defines a full market cycle as a three- to five-year period. The Fund will seek to achieve its objective by investing at least 80% of its investable assets in bonds under normal circumstances. For purposes of this policy, bonds include all fixed income securities, including but not limited to debt obligations issued by the U.S. Government and its agencies, corporate debt securities, mortgage-related securities and asset-backed securities. In pursuit of this policy, the Fund invests primarily in securities included in the Index. The Index invests in a wide spectrum of public, investment-grade, taxable fixed income securities in the United States – including government, corporate, mortgage-backed and asset-backed securities, all with maturities of more than 1 year. The Fund takes a conservative investment approach by seeking to maintain a risk profile consistent with that of the market, while still seeking to outperform the Index over a full market cycle using bottom-up fundamental analysis. The Fund is not sponsored by or affiliated with Bloomberg, the provider of the Index. The term “investable assets” in this Prospectus refers to the Fund’s net assets plus any borrowings for investment purposes. The Fund’s investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions.The Fund invests in different sectors of the fixed income securities markets, including (but not limited to) U.S. corporate bonds, U.S. Treasuries, agency bonds, Yankee bonds, U.S. Government securities, mortgage-backed securities (including commercial mortgage-backed securities), asset-backed securities, dollar rolls, and foreign debt securities (mainly sovereign debt). The Fund may also invest in U.S. Treasury futures contracts and other exchange-traded futures contracts, and swap contracts.The Fund has the flexibility to allocate its investments across different sectors of the fixed income securities markets. The Fund is not obligated to invest in all of these sectors at a given time and, at times, may invest all of its assets in only one sector.While the Fund’s portfolio is structured to have similar overall characteristics to the Index, the portfolio managers may adjust certain holdings in relation to their weightings in the Index and use other investment strategies in an attempt to outperform the Index. The portfolio managers evaluate specific traits and sectors within the Index and, within each broad segment of the Index (such as corporate bonds, U.S. Government securities, and mortgage-backed and asset-backed securities), select a set of U.S. dollar-denominated bonds that represents key benchmark traits. The most important of these traits are interest rate sensitivity, credit quality, and sector diversification, although other characteristics may be considered. Based on the portfolio managers’ views as to the relative value or attractiveness of a specific trait or sector, the Fund places a slightly greater or lesser emphasis on certain Index characteristics than their representation in the Index. This could result in the Fund being underweight or overweight in certain sectors versus the Index.The Fund invests in investment-grade debt securities. The Fund may invest in debt obligations issued or guaranteed by the U.S. Government and U.S. Government-related entities. Some (but not all) of these debt securities such as U.S. Treasury securities are backed by the full faith and credit of the U.S. Government, which means that payment of interest and principal is guaranteed, but yield and market value are not. These also include obligations of the Government National Mortgage Association (“GNMA” or “Ginnie Mae”). Debt securities issued by other government entities, like obligations of the Federal National Mortgage Association (“FNMA” or “Fannie Mae”) and the Student Loan Marketing Association (“SLMA” or “Sallie Mae”), are not backed by the full faith and credit of the U.S. Government. However, these issuers have the right to borrow from the U.S. Treasury to meet their obligations. In contrast, the debt securities of other issuers, like the Farm Credit System, depend entirely upon their own resources to repay their debt obligations.The Fund may invest in mortgage-related securities issued or guaranteed by U.S. governmental entities or private issuers. These securities are usually pass-through instruments that pay investors a share of all interest and principal payments from an underlying pool of fixed or adjustable rate mortgages. Mortgage-related securities issued by the U.S. Government include GNMAs and mortgage-related securities issued by agencies of the U.S. Government as well as FNMAs and debt securities issued by Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”). Privately issued mortgage-related securities that are not guaranteed by U.S. governmental entities generally have one or more types of credit enhancement to ensure timely receipt of payments and to protect against default. Privately issued mortgage-backed securities may include loans on commercial or residential properties.The Fund may invest in asset-backed securities. An asset-backed security is another type of structured instrument that pays interest based upon the cash flow of an underlying pool of assets, such as automobile loans or credit card receivables. Credit quality depends primarily on the quality of the structure and the underlying collateral, inclusive of the level of credit support. The value of the security may change because of actual or perceived changes in the creditworthiness of the individual borrowers, the originator, the servicing agent, the financial institution providing the credit support or the swap counterparty.The Fund may invest in foreign debt securities, which include securities that are issued by foreign governments and corporations. Foreign government debt securities include securities issued by quasi-governmental entities, governmental agencies, supranational entities and other governmental entities denominated in foreign currencies or U.S. dollars.The Fund may engage in active trading—that is, frequent trading of its securities—in order to take advantage of new investment opportunities or yield differentials.In managing the Fund’s assets, the subadviser uses a combination of top-down economic analysis and bottom-up research in conjunction with proprietary quantitative models and risk management systems. In the top-down economic analysis, the subadviser develops views on economic, policy and market trends. In its bottom-up research, the subadviser develops an internal rating and outlook on issuers. The rating and outlook are determined based on a thorough review of the financial health and trends of the issuer. The subadviser may also consider investment factors such as expected total return, yield, spread and potential for price appreciation as well as credit quality, maturity and risk. The Fund may invest in a security based upon the expected total return rather than the yield of such security.
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PQCNX - Performance

Return Ranking - Trailing

Period PQCNX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.8% -6.0% 3.9% 70.62%
1 Yr 2.1% -10.3% 16.1% 69.22%
3 Yr -3.0%* -10.4% 26.2% 67.96%
5 Yr -0.2%* -6.6% 191.4% 83.69%
10 Yr N/A* -2.4% 73.7% N/A

* Annualized

Return Ranking - Calendar

Period PQCNX Return Category Return Low Category Return High Rank in Category (%)
2023 2.0% -16.2% 8.1% 55.20%
2022 -15.9% -34.7% 131.9% 46.15%
2021 -4.3% -11.6% 4.4% 86.17%
2020 3.7% -10.1% 946.1% 56.22%
2019 5.5% -1.7% 156.4% 55.58%

Total Return Ranking - Trailing

Period PQCNX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.8% -6.0% 3.9% 70.62%
1 Yr 2.1% -10.3% 16.1% 69.22%
3 Yr -3.0%* -10.4% 26.2% 67.96%
5 Yr -0.2%* -6.6% 191.4% 83.69%
10 Yr N/A* -2.4% 73.7% N/A

* Annualized

Total Return Ranking - Calendar

Period PQCNX Return Category Return Low Category Return High Rank in Category (%)
2023 5.8% -11.3% 11.0% 60.36%
2022 -13.6% -32.2% 131.9% 50.20%
2021 -2.0% -9.4% 9.2% 85.43%
2020 7.2% -1.9% 1009.0% 75.00%
2019 8.2% 1.1% 21668.0% 69.59%

NAV & Total Return History


PQCNX - Holdings

Concentration Analysis

PQCNX Category Low Category High PQCNX % Rank
Net Assets 51 M 2.73 M 292 B 93.46%
Number of Holdings 546 1 17889 56.65%
Net Assets in Top 10 11.9 M -106 M 36.5 B 94.52%
Weighting of Top 10 25.67% 4.4% 134.1% 44.29%

Top 10 Holdings

  1. United States Treasury Note/Bond 4.33%
  2. United States Treasury Note/Bond 4.05%
  3. United States Treasury Note/Bond 3.34%
  4. United States Treasury Note/Bond 2.81%
  5. United States Treasury Note/Bond 2.76%
  6. United States Treasury Note/Bond 2.21%
  7. United States Treasury Note/Bond 2.02%
  8. United States Treasury Note/Bond 1.52%
  9. United States Treasury Note/Bond 1.44%
  10. United States Treasury Note/Bond 1.20%

Asset Allocation

Weighting Return Low Return High PQCNX % Rank
Bonds
98.14% 0.00% 215.98% 34.08%
Cash
1.43% -54.51% 88.26% 72.41%
Convertible Bonds
0.71% 0.00% 7.93% 73.60%
Other
0.43% -13.23% 58.65% 71.04%
Stocks
0.00% 0.00% 99.93% 37.70%
Preferred Stocks
0.00% 0.00% 74.68% 33.46%

Bond Sector Breakdown

Weighting Return Low Return High PQCNX % Rank
Government
37.11% 0.00% 86.23% 24.43%
Securitized
32.40% 0.00% 98.40% 42.36%
Corporate
24.58% 0.00% 100.00% 69.36%
Cash & Equivalents
1.09% 0.00% 88.06% 71.33%
Municipal
0.90% 0.00% 100.00% 29.36%
Derivative
0.00% -5.38% 58.65% 43.44%

Bond Geographic Breakdown

Weighting Return Low Return High PQCNX % Rank
US
98.14% 0.00% 215.98% 29.55%
Non US
0.00% 0.00% 39.04% 42.37%

PQCNX - Expenses

Operational Fees

PQCNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.63% 0.01% 39.10% 56.71%
Management Fee 0.27% 0.00% 1.76% 18.38%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

PQCNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PQCNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PQCNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 194.00% 2.00% 493.39% 67.86%

PQCNX - Distributions

Dividend Yield Analysis

PQCNX Category Low Category High PQCNX % Rank
Dividend Yield 3.48% 0.00% 9.75% 94.53%

Dividend Distribution Analysis

PQCNX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

PQCNX Category Low Category High PQCNX % Rank
Net Income Ratio 1.28% -1.28% 4.79% 76.23%

Capital Gain Distribution Analysis

PQCNX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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PQCNX - Fund Manager Analysis

Managers

Stewart Wong


Start Date

Tenure

Tenure Rank

Nov 15, 2016

5.54

5.5%

Stewart Wong, CLU, ChFC, is a Principal on the Multi-Sector Portfolio Management team for PGIM Fixed Income. Mr. Wong is a senior portfolio manager on the Core Conservative mandate. Mr. Wong is also head of Agency Mortgage Backed Securities and is responsible for performance across all mandates including Core Conservative, Core, Core Plus, Mutual Funds, Liquidity Relative Value Strategies and Prudential’s proprietary accounts. Prior to assuming his current position in 1994, he developed proprietary fixed income analytics within the Financial Strategies Group. Mr. Wong joined the Firm in 1988. He received a BA in Computer Science from New York University and an MBA in Finance from Pace University. Mr. Wong holds the Chartered Life Underwriter (CLU) and Chartered Financial Consultant (ChFC) designations.

Gregory Peters


Start Date

Tenure

Tenure Rank

Apr 25, 2019

3.1

3.1%

Gregory Peters is a Managing Director and Senior Investment Officer of PGIM Fixed Income. He is also senior portfolio manager for Core, Long Government/Credit, Core Plus, Absolute Return, and other multi-sector Fixed Income strategies. Prior to joining PGIM Fixed Income, Mr. Peters was the Chief Global Cross Asset Strategist at Morgan Stanley and responsible for the firm's macro research and asset allocation strategy. In addition, he was Morgan Stanley's Global Director of Fixed Income & Economic Research and served on the Firm Risk, Investment, Asset Allocation, Global Credit, and Global Fixed Income Operating Committees. Earlier, Mr. Peters worked at Salomon Smith Barney and the Department of U.S. Treasury. Mr. Peters has been recognized by Institutional Investor magazine for his efforts in macro, fixed income, high yield and investment grade strategies. Mr. Peters was also recently recognized as Business Insider's Top Analysts and Top Analyst's to Watch by CEO World. Mr. Peters earned a BA in Finance from The College of New Jersey and an MBA from Fordham University. He is also a member of the Fixed Income Analyst Society and the Bond Market Association.

Michael Marinelli


Start Date

Tenure

Tenure Rank

Sep 30, 2021

0.67

0.7%

Michael Marinelli* is a Vice President and portfolio manager for PGIM Fixed Income's U.S. Investment Grade Corporate Bond Team. In addition to his trading responsibilities, Mr. Marinelli provides portfolio management support to PGIM Fixed Income's Core Conservative Strategy. Prior to his current role, Mr. Marinelli was a member of the Portfolio Analysis Group within the Quantitative Research and Risk Management Group. Mr. Marinelli joined the Firm in 1996 and received a BS in Accounting from Rutgers University and an MBA in Financial Management from Pace University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.82 1.16